2nd Quarterly Update Report
I hope all of you had a wonderful, happy and safe July Fourth weekend. I don’t know about you, but it makes my head spin to see how quickly the year is going!
While we are now wrestling with the unknowns of the UK vote to withdraw from the European Union, we can, however, report some really good news for the U.S. real estate industry from the National Association of Realtors. They are reporting that nationally existing home sales leaped ahead in May to their “highest pace in almost a decade and pushed the median sales price to an all-time high.” Nationally, total existing-home sales grew 1.8 percent to a seasonally adjusted annual rate of 5.53 million in May from a downwardly revised 5.43 million in April. With last month’s gain, sales are now up 4.5 percent from May 2015 (5.29 million) and are at their highest annual pace since February 2007 (5.79 million). According to the California Association of Realtors, in California, existing home sales edged up in May also, rising above the 400,000 benchmark level for the third straight month, while strained housing supply continued to push prices higher.
On a personal note, I want to thank all of my clients and associates for the support you’ve given me as I was recognized by NRT, the holding company for Coldwell Banker, for being one of the Top 500 real estate agents (out of 47,000) for the first quarter 2016. This is truly an honor and thank you for your business and thank you to my wonderful team as well.
Please let me know how I might assist you with any of your real estate needs. Remember you can Count on Carole!